Why bitcoin will drop to $1000 and why we should be happy about it.

[OddEvenBets.com]

Bitcoin never dropped to $1000, this is wrong info.
In the end of year BTC price will be 40K usd, hope this happen..

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[BlockchainGod]

Are you sure that bitcoin will fall? I'm not. I think the phase of the fall is over and the growth will start soon.

[kram31]

Bitcoin will never touch 1000 USD again.
5000 USD will be very hart to have in this situation with the popularity of BTC now.
i just buy a lot at 6000 per BTC and will hold this for a long time.
i believe in BTC.

[Vaflia]

I think bitcoin will not fall below$6000. The market has stabilized, the fall will no longer be, now we are waiting for a small phase of calm before the big growth)

[OddEvenBets.com]

Bitcoin will never touch 1000 USD again.
5000 USD will be very hart to have in this situation with the popularity of BTC now.
i just buy a lot at 6000 per BTC and will hold this for a long time.
i believe in BTC.

You are right.
Best choice to hold now.
This point is good for buying BTC.
I believe too.

[Temik2704]

I agree with TopicStarter, BTC is not comfortable and not user-friendly for daily transactions. But it is first crypto asset ever, which amount cant be more than 21kk coins. Demand creates supply and that's why BTC`s capitalization will always be in a first place by my opinion.

[iTradeChips]

I think bitcoin will not fall below$6000. The market has stabilized, the fall will no longer be, now we are waiting for a small phase of calm before the big growth)

agreed. and what idiot will keep selling below 6k? the dumb money have exited many months ago. they panic bought at 15-20k panic sold below 10k. good job guys. just HODL and sell @
20-30k in a few months. sell slowly and enjoy winning the lottery in slow motion.

[iTradeChips]

It is very unlikely that a bitcoin of $ 1,000 will be cut, as diggers will not be able to afford the digging if reduced to that level.

another good point as someone upthread might have already said. just prepare your popcorn guys. watch the same idiots finally buy back again at nosebleed prices due to FOMO. if you think the fomo in 2017 was insane wait till you see this next one..

[pawanjain]

The sole purpose of creating bitcoin was to make payments electronically over the peer to peer network. Bitcoin is serving this purpose which is why it has reached at such price. Although it has been more of an investment currency these days, it is still convenient to use it. I don't find a strong reason in your statements for bitcoin to drop to $1000 and I don't find a good reason to be happy about it either. BTC has been facing such large fluctuations for years now and I believe it will continue to happen for a long term.

[tegarp90]

I have read through some recent posts on the forum and I see that many people don't quite understand the fundamentals of bitcoin, and so they may not be able to do reasonable investment decisions.

I have talked to many financial experts during real life conferences and in online chats and they all tell approximately the same. There are two types of currencies: Payment Currencies and Investment Currencies. In fact there may be other types of currencies, but lets focus on these two types for simplicity. So, investment currencies have different features as compared to payment currencies and they will develop differently. Of course, they always have mutual features and even may be a replacement of each other sometimes, but generally they designed differently and it will be a mistake to expect investment currency to behave the same as payment currency and have the same growth factors.

Bitcoin is designed as investment currency. We should just accept this fact. Of course it may be used as a method of payment, but it will never become a replacement for a fiat currency. Some future cryptocurrency will be, but not bitcoin. Bitcoin will never be directly supported by any major government. They may regulate it, legalize it, they may even invest in it through some bank or fund, but they will never support it directly. This is because government is about regulation, collection and distribution, government is not a player. If some G7 government decide to support cryptocurrency, they will create their own cryptocurrency with the features they need, they will regulate it as they need and they will treat it as the national asset.

So when investing in bitcoin we should not rely on the possibilities that will never actually happen to bitcoin. Instead, we should realize the nature of bitcoin and act accordingly. Saying that, since there are no more evident factors of bitcoin growth, we should allow it to drop. I estimate that it may cost at around $1000 as the bottom rock. And then bitcoin will grow again. In about a month time frame the whales and high-rollers will easily take it back to $6000 and the following buzz will rise it up to $10-15k in 2-3 months. This would be quite typical behavior of the investment currency. I also think that the miners industry will survive this drop without any significant issues, they will just have a month or two of loss, and then they will enjoy the long ride - quite usual wave in the business. And mostly important, if bitcoin drop down and then recover, this will be huge stimulation of the industry in general and bitcoin in particular - it will show that bitcoin can survive the crisis and repeat the growth. So we should get prepared for the drop and take it as the logical development of an investment currency, and not as the "death of bitcoin".

These are just my considerations, so please let me know your opinion.

That would not happen at least this year.
Because this year low has reached and i think no more low coming.
And also many new investors coming to crypto and crypto is growing as well.

[lepbagong]

I think that would be nearly impossible for now, since it's on a higher value. It's now that so easy to bring bitcoin to that price since many countries are now adapting it's uses and privileges. If that point comes, then it is probably the end of bitcoin already.

I am not convinced that that will be the end of bitcoin, because until now there are still many who invest in bitcoin and still believe it and there is indeed time in terms of trading there are times above and below one day, but I assure that bitcoin will still exist

[gabmen]

I think that would be nearly impossible for now, since it's on a higher value. It's now that so easy to bring bitcoin to that price since many countries are now adapting it's uses and privileges. If that point comes, then it is probably the end of bitcoin already.

I am not convinced that that will be the end of bitcoin, because until now there are still many who invest in bitcoin and still believe it and there is indeed time in terms of trading there are times above and below one day, but I assure that bitcoin will still exist

Well 1k isn't going to be pleasing for a lot of people. Even those saying that they're waiting for the price to drop more won't find it promising if we go that low. Panic would surely take grip and i don't know where we'll be after that.

[senin]

I have read through some recent posts on the forum and I see that many people don't quite understand the fundamentals of bitcoin, and so they may not be able to do reasonable investment decisions.

I have talked to many financial experts during real life conferences and in online chats and they all tell approximately the same. There are two types of currencies: Payment Currencies and Investment Currencies. In fact there may be other types of currencies, but lets focus on these two types for simplicity. So, investment currencies have different features as compared to payment currencies and they will develop differently. Of course, they always have mutual features and even may be a replacement of each other sometimes, but generally they designed differently and it will be a mistake to expect investment currency to behave the same as payment currency and have the same growth factors.

Bitcoin is designed as investment currency. We should just accept this fact. Of course it may be used as a method of payment, but it will never become a replacement for a fiat currency. Some future cryptocurrency will be, but not bitcoin. Bitcoin will never be directly supported by any major government. They may regulate it, legalize it, they may even invest in it through some bank or fund, but they will never support it directly. This is because government is about regulation, collection and distribution, government is not a player. If some G7 government decide to support cryptocurrency, they will create their own cryptocurrency with the features they need, they will regulate it as they need and they will treat it as the national asset.

So when investing in bitcoin we should not rely on the possibilities that will never actually happen to bitcoin. Instead, we should realize the nature of bitcoin and act accordingly. Saying that, since there are no more evident factors of bitcoin growth, we should allow it to drop. I estimate that it may cost at around $1000 as the bottom rock. And then bitcoin will grow again. In about a month time frame the whales and high-rollers will easily take it back to $6000 and the following buzz will rise it up to $10-15k in 2-3 months. This would be quite typical behavior of the investment currency. I also think that the miners industry will survive this drop without any significant issues, they will just have a month or two of loss, and then they will enjoy the long ride - quite usual wave in the business. And mostly important, if bitcoin drop down and then recover, this will be huge stimulation of the industry in general and bitcoin in particular - it will show that bitcoin can survive the crisis and repeat the growth. So we should get prepared for the drop and take it as the logical development of an investment currency, and not as the "death of bitcoin".

These are just my considerations, so please let me know your opinion.

In general, I agree with your opinion. I also think that bitcoin will still fall several times in price very low, but I'm not sure that up to a thousand dollars. However, this fact should not be regarded as a tragedy, although the bulk of its holders will necessarily take it as the collapse of bitcoin.
However, I do not agree with your opinion that bitcoin was created precisely as an investment currency, and not as a means of payment. It seems to me that bitcoin was created as an alternative payment system to the existing payment system and therefore its main function is still a means of payment.

[karnwillbit]

We can't be happy about 1000 because that would be something horrible has happened. If you want a realistic approach than say 5k at most but when you say 1k that is just a clickbaity title to get more views on your topic and try to convince people that you know what you are talking about, you don't.

Any regular person with a normal mind would know that 1000 is not plausible for now, yet maybe 200 years from now no one will be using bitcoin who knows, but for now there is no chance that 1k will be reached. Even if it does, we can't be happy about it because for bitcoin to drop that much there needs to be a bad news.

[bintangkejoraku]

Bitcoin never dropped to $1000, this is wrong info.
In the end of year BTC price will be 40K usd, hope this happen..

by the end of this year or the end of 2019 do you mean?
it seems impossible at the end of this year to reach $ 40k, market conditions have not fully recovered and bitcoin prices tend to fall.

[1Referee]

Even those saying that they're waiting for the price to drop more won't find it promising if we go that low. Panic would surely take grip and i don't know where we'll be after that.

Yes. I remember when the price was hovering over $15,000 that so many people were 'hating' themselves for not having bought below $10,000 while they had all the time in the world to do it not that long before that, and now we're far below that level, people's urge to buy is completely gone. This once again points out how important an increasing market is when it comes to people's confidence.

Even if the price falls below $1000 we'll see the same happen because 90% of the participants in this industry are still believing that Bitcoin might become worth zero at some point. It's hard to imagine for most people here on this forum as Bitcoin enthusiasts, but average joes and all the gamblers actually think it is a realistic possibility.

[bitbunnny]

This is so funny. We have threads here saying Bitcoin will hit 100 000$ soon and Bitcoin will go all the way to 1000$ at the same time. So, completely opposite predictions or theories, call that whatever you like for the same thing. And both are actuallly based on nothing, pure speculation based on personal feeling and hunch.
I don't think that either of these two are worth commenting and to my opinion neither of these two are possible.

[Clark05]

For now bitcoin will not like that price because the lowest price for the bitcoin this year is only 5000 dollars. But if bitcoin totally decrease to 1000 dollars I invest more because for sure it will up with a short period of time because many people who already leave will back for sure.

[deppil]

For now bitcoin will not like that price because the lowest price for the bitcoin this year is only 5000 dollars.

Thats right buddy. I think we have reached the lowest price on bitcoin. we have experienced the worst scenario in the bitcoin market and the price hasn't dropped below $5900? and we have stabilized above that price and I don't think we will go down below $6k let alone $1000

[bitcoinerjawa]

bitcoin prices collapsed maybe because there was bad news circulating on some internet media that made many traders panic and finally made the price of bitcoin dropped like this.